LifeLabs a Step Closer to Completing $1.2B Buy of CML HealthCare
The proposed acquisition of Mississauga, Ontario-based CML HealthCare Inc. (TSX:CLC), a diagnostic lab and medical imaging provider, by LifeLabs Medical Laboratory Services Inc. has been cleared by the federal competition bureau. In July, LifeLabs offered to buy CML for $10.75 per share, or $1.22 billion in total. The company's shareholders will now consider the deal at a meeting scheduled for September 3, 2013. Toronto-based LifeLabs, formerly MDS Diagnostic Services, was bought by Borealis Infrastructure, the investment arm of Ontario Municipal Employees Retirement System, in 2007.
23 August 2013•2 mins read
